Baxter International (NYSE:BAX) Price Target Raised to $23.00

Baxter International (NYSE:BAX) had its price objective boosted by equities researchers at Barclays from $20.00 to $23.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the medical instruments supplier’s stock. Barclays‘s price target points to a potential downside of 12.42% from the company’s previous close.

Several other analysts have also recently issued reports on the company. UBS Group increased their price objective on Baxter International from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group boosted their target price on Baxter International from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. JPMorgan Chase & Co. cut their price target on Baxter International from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Finally, Wolfe Research initiated coverage on Baxter International in a research report on Tuesday, October 20th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Baxter International currently has a consensus rating of “Reduce” and a consensus price target of $23.27.

Baxter International Stock Up 1.8%

BAX traded up $0.47 during trading hours on Monday, hitting $26.26. 328,715 shares of the company’s stock were exchanged, compared to its average volume of 7,839,259. Baxter International has a 12-month low of $15.73 and a 12-month high of $30.00. The firm has a 50 day moving average of $24.50 and a 200 day moving average of $21.51. The firm has a market cap of $13.59 billion, a P/E ratio of -18.58, a price-to-earnings-growth ratio of 3.80 and a beta of 0.68. The company has a current ratio of 1.79, a quick ratio of 1.19 and a debt-to-equity ratio of 1.20.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. Baxter International had a negative net margin of 6.23% and a positive return on equity of 16.23%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company posted $0.69 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Analysts predict that Baxter International will post 2.10 EPS for the current fiscal year.

Hedge Funds Weigh In On Baxter International

Several large investors have recently bought and sold shares of the business. Pzena Investment Management LLC purchased a new stake in Baxter International during the 2nd quarter worth about $1,392,098,000. Tocqueville Asset Management L.P. acquired a new position in shares of Baxter International during the 2nd quarter worth about $30,604,000. BlackRock Inc. acquired a new position in shares of Baxter International during the 2nd quarter worth about $1,744,874,000. AMG National Trust Bank purchased a new position in shares of Baxter International in the 2nd quarter valued at about $2,522,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Baxter International in the 2nd quarter valued at about $51,958,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Company Profile

Baxter International is a global healthcare company that develops and supplies products used in hospitals, clinics and other care settings. Its offerings include intravenous solutions and administration sets, infusion pumps, medication-delivery systems, and products for surgical and hospital care.

The company also provides patient-monitoring and connected-care technologies, including products associated with Hillrom, which Baxter acquired in 2021. Its products and services support healthcare professionals and patients in countries around the world.

Founded in 1931, Baxter began by producing intravenous solutions.